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Showing posts from December, 2022

Artificial Intelligence and Indian Banking sector

What is Artificial Intelligence (AI) According to WIXEncyclopedia “ AI is a branch of computer science that develops machine systems capable of demonstrating behaviours linked to human intelligence. AI programs use data collected from different interactions to improve the way they mimic humans in order to perform tasks such as learning, planning, knowledge representation, perception and problem-solving ”   Thus, AI is the science of making a computer or a software think intelligently just like a human brain, towards learning how to solve a problem. In a way it helps personalise interaction between a human being and a machine. AI tools are based on three main cognitive skills of learning, replicating and reasoning. AI makes a machine, generally a computer, capable of thinking and responding like a human being. The tasks involving a set of algorithms become automatic through intelligent programming based on learning through experience. Artificial Intelligence (AI) has been stea...

US Dollar Index

Those who are watching business television channels regularly or following on economic news, would have noticed that these days, more and more commentators are talking about US Dollar Index. For better appreciation, let us decipher the subject. What is Dollar index  Established in 1973, the US Dollar Index (USDX) is an empirical measure of the value of US dollar against six other foreign currencies (fixed basket of currencies), with assignment of varying weights to respective currencies ie. Euro  (EUR) 57.6 %, Japanese Yen  (JPY) 13.60%, British Pound  (GBP) 11.90%, Canadian Dollar  (CAD) 9.10%, Swedish Krona  (SEK) 4.20% and Swiss Franc  (CHF) 3.60%. Before 1999, when Euro became a legal tender, USDX consisted of ten currencies-Deutsche mark, French franc, Italian lira, Dutch guilder, and Belgium franc in addition to JPY, GBP, CAD, SEK and CHF. To draw an analogy, the value of a stock index like SENSEX or NIFTY is computed on the basis of a basket of ...